AAR Corp. (AIR) Earns Hold Rating from Analysts at Canaccord Genuity
Research analysts at Canaccord Genuity started coverage on shares of AAR Corp. (NYSE:AIR) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “hold” rating on the aerospace company’s stock.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research lowered AAR Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. BidaskClub raised AAR Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. Finally, Noble Financial reaffirmed a “buy” rating on shares of AAR Corp. in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $46.80.
AAR Corp. (AIR) opened at 35.86 on Wednesday. AAR Corp. has a 12-month low of $26.51 and a 12-month high of $38.75. The stock’s 50 day moving average is $36.12 and its 200-day moving average is $35.00. The company has a market cap of $1.21 billion, a P/E ratio of 21.95 and a beta of 1.39.
AAR Corp. (NYSE:AIR) last announced its quarterly earnings data on Tuesday, July 11th. The aerospace company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. AAR Corp. had a return on equity of 5.69% and a net margin of 3.20%. The company had revenue of $492.30 million for the quarter, compared to analyst estimates of $486.93 million. During the same quarter in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. Analysts predict that AAR Corp. will post $1.78 earnings per share for the current fiscal year.
AAR Corp. announced that its Board of Directors has approved a stock buyback program on Tuesday, July 11th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the aerospace company to buy up to 20.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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In other news, Director Ronald B. Woodard sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $37.22, for a total transaction of $744,400.00. Following the sale, the director now owns 20,073 shares of the company’s stock, valued at approximately $747,117.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert J. Regan sold 28,640 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $36.53, for a total value of $1,046,219.20. Following the sale, the vice president now directly owns 114,193 shares in the company, valued at approximately $4,171,470.29. The disclosure for this sale can be found here. Insiders have sold a total of 91,840 shares of company stock worth $3,401,115 in the last three months. Corporate insiders own 9.33% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of AAR Corp. during the 2nd quarter worth approximately $293,000. Piedmont Investment Advisors LLC purchased a new stake in shares of AAR Corp. during the 2nd quarter worth approximately $240,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of AAR Corp. by 14.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 19,216 shares of the aerospace company’s stock worth $658,000 after acquiring an additional 2,425 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of AAR Corp. during the 2nd quarter worth approximately $213,000. Finally, State Street Corp boosted its stake in shares of AAR Corp. by 1.6% during the 2nd quarter. State Street Corp now owns 1,119,196 shares of the aerospace company’s stock worth $38,901,000 after acquiring an additional 17,488 shares in the last quarter. 88.03% of the stock is currently owned by institutional investors and hedge funds.
AAR Corp. Company Profile
AAR CORP. (AAR) is a provider of services and products to the commercial aviation and government and defense markets. The Company operates in two segments: Aviation Services, which consists of supply chain and maintenance, repair and overhaul (MRO) activities, and Expeditionary Services, which includes airlift and mobility activities.
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